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-- -- to Egypt -- the protests -- into a third day and there are reports the military.
May -- step then again these are live pictures coming at -- -- in Egypt.
Hundreds of thousands are gathered gathered there and Cairo millions taking to the streets these crowds have been growing.
Over the last few hours they're threatening now to storm the Presidential Palace that the president does not step down.
President -- has rejected the military's ultimatum to him giving him until tomorrow morning our time to meet protesters demands and reach a power sharing deal that he does not.
Military sources are saying -- draft Egypt army roadmap would suspend the constitution.
Dissolving islamists led parliament and then a new presidential election at some point.
Would be held here as Egypt and your money as Egypt erupted falling oil contract for you oil continues to climb right 9889.
Right now there was a gain yesterday as well and major US companies like Coca-Cola ExxonMobil.
And caterpillar the big stake in this country.
But -- a lot of upper management says he would not only avoid investing in Egypt but the whole Middle East region as well you're calling -- -- sewer.
This was when you and I were together and at least three years ago and it was a completely different story you really -- -- -- one Egypt well.
Everything has gotten worse area and in Egypt you had the overthrow of the government without an established democratic institution to two over replace it.
And they cobble one together and now the people are saying they're gonna dismantle -- so you could have.
Civil strife and instability in Egypt and it's a work in progress and there's really nothing nothing good happening by either side is going to be unhappy -- Shortages food shortages of a concern -- a -- of the economy but also the same time we're worried about.
Supplies to the US regional to be fair we only import point 3%.
A bar imports of oil coming from the Middle East come for the United States government from Egypt so.
Maybe that's not really an issue.
But the Suez Canal bigger problem.
The Suez Canal would be a big problem for the world for the price and the availability of oil.
And could affect the worldwide economies in a very negative -- so the -- the importance of Egypt to investors around the world is purely.
The Suez Canal and the price and availability of oil to egyptians obviously it's a much more complicated story but for investors -- we only have to watch the Suez Canal.
There's also the one point six billion dollars in foreign aid that Egypt taking a big talk about is coming from the United States from the united -- taxpayer yes.
But that they've been gradually becoming closer to the gulf nations who are replacing the United States or at least becoming as important as the United States in terms of support.
So Egypt it's it's not insignificant to the United States but it's not as critical as he used to be as we have become.
Efficient energy independent and more focused on -- are pitted towards Asia.
-- one of the things about this region and this is why you're saying that Egypt is so crucial is because of its.
Of its strategic location frankly to Israel also to Iran to Iraq is basically right dead center and if you look at a map overall.
Israel's right there yeah invest the big problem Egypt and I would -- kind of our ally and and -- ball is obviously shielded the Israelis.
It tells look at -- what ten billion dollars to work.
And Israel right now they just announced that I need to companies like and tell -- that.
Think twice well.
The Israeli economy and the Israeli defense.
Institutions are really -- insulated from what's going on there is no.
Credible threat to the Israeli borders from Syria from Egypt those are countries that have their internal problems but the Israeli economy at least for now before foreseeable future we'll continue to.
-- in Syria we were there together before obviously the the genocide began that's frankly what that is happening there.
Do you believe that this the instant believe there is gonna spread over -- summer like Jordan is that a concern as well.
Risks and Syria are to the downside to the effect of the neighbors who looks like it's going to be a protracted civil war.
Nobody is gonna win in the short term the momentum is with the side but the negative there is that it does spill over into into Jordan into Lebanon particularly.
And then of course you you could have the Palestinians.
Take to the streets also there's no peace agreement with the Israelis for a quick Genesis guest mentioned about emerging markets he's got he's a -- play right on emerging market -- what we're serenity you've always been emerging markets sure all end -- but those those ATF's have been selling off.
Right well I agree with what he said that the issue is you have to pick your stocks.
And -- -- is very carefully because Russia is not growing China's slowing in the is slowing Brazil is not growing so the emerging markets are very good long term story.
But you can't just by the indices anymore because the biggest economies in the indices are and I'm doing as well as they were and I would say the frontier markets.
Actually are where the growth is now the.
None of the Middle East yet just I haven't an Angel there yes definitely -- strip on the Middle East -- a lot thank you very that's my pleasure -- Casilla got okay thank you.
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